Market Signal Briefing

HSBC has hired former NatWest executive David Lindberg to lead its UK business in the latest reshuffle of top leadership under Chief Executive Georges Elhedery, the Financial Times reported on Monday.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Designer Brands Inc. (NYSE: DBI) resulting from allegations that Designer Brands may have issued materially misleading business information to the investing public.

So What: If you purchased Designer Brands securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=40581https://rosenlegal.com/submit-form/?case_id=40454or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On June 10, 2025, Designer Brands reported its financial results for the first quarter of 2025. Commenting on the results, Designer Brands' CEO stated that "[w]e experienced a soft start to 2025 amid an unpredictable macro environment and deteriorating consumer sentiment." Further, he stated that "[g]iven the persistent instability and pressure on consumer discretionary spend, we've made the decision to withdraw our 2025 guidance for the time being."

On this news, Designer Brands' stock fell 18.2% on June 10, 2025.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions.  Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+

Newsrooms &

Influencers

9k+

Digital Media

Outlets

270k+

Journalists

Opted In

October 21, 2025 00:14 ET

 | Source:

Disc Medicine Inc

WATERTOWN, Mass., Oct. 21, 2025 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the pricing of the upsized underwritten offering of shares of its common stock and, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. Disc is selling 2,619,049 shares of common stock and pre-funded warrants to purchase 59,523 shares of common stock and AI DMI LLC (the Selling Stockholder) is selling 297,619 shares of common stock in the offering. The shares of common stock are being sold at an offering price of $84.00 per share, and the pre-funded warrants are being sold at an offering price of $83.9999 per pre-funded warrant, which represents the per share offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds to Disc from this offering are expected to be approximately $225 million, before deducting underwriting discounts and commissions and other offering expenses, excluding the exercise of any pre-funded warrants. The aggregate gross proceeds to the Selling Stockholder from this offering are expected to be approximately $25 million, before deducting underwriting discounts and commissions. In addition, the Selling Stockholder has granted the underwriters a 30-day option to purchase up to an additional 446,428 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on October 22, 2025, subject to the satisfaction of customary closing conditions.

Disc intends to use the net proceeds from the offering to support the potential commercialization of bitopertin for erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP), to fund research and clinical development of its current or additional product candidates, and for working capital and other general corporate purposes. Disc will not receive any proceeds from the sale of shares to be offered by the Selling Stockholder.

Jefferies, Leerink Partners, Morgan Stanley and Cantor are acting as joint book-running managers for the offering. Wedbush PacGrow and H.C. Wainwright & Co. are acting as co-managers for the offering.

The offering is being made pursuant to an automatic shelf registration statement on Form S-3 (No. 333-281359) that was previously filed with the Securities and Exchange Commission (SEC) on August 8, 2024 and a resale registration statement on Form S-3 (No. 333-269270) that was previously filed with the SEC on January 18, 2023. This offering is being made only by means of a prospectus supplement and accompanying prospectuses that form a part of the registration statements. A final prospectus supplement and accompanying prospectuses related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectuses relating to this offering may also be obtained, when available, by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, (800) 808-7525 ext. 6105 or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York, 10022, or by email at [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

About Disc Medicine

Disc Medicine (NASDAQ: IRON) is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements related to Disc’s expectations regarding the timing and closing of the offering, and the anticipated use of proceeds from the offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. These risks and uncertainties include fluctuations in Disc’s stock price, changes in market conditions, the satisfaction of customary closing conditions related to the underwritten offering, and other risks identified in our SEC filings, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and in the prospectus supplement related to the offering we will file with the SEC. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Media Contact
Peg Rusconi
Deerfield Group
[email protected]

Investor Relations Contact
Christina Tartaglia
Precision AQ
[email protected]

October 21, 2025 12:26 AM EDT | Source: Railtown Capital Corp.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2025) - Tiernan Gold Corp. ("Tiernan"), a wholly owned subsidiary of Hochschild Mining PLC (LSE: HOC) (OTCQX: HCHDF) and Railtown Capital Corp. (TSXV: RLT.P) ("Railtown") are pleased to announce that, further to the joint news release dated September 3, 2025 (the "Previous Release"), Railtown has filed on SEDAR+ a technical report (the "Technical Report") titled "NI 43-101 Technical Report and Preliminary Economic Assessment - Tierra Amarilla, Atacama Region, Chile", in respect of Tiernan's large-scale open-pit heap leach Volcan gold project located in the Maricunga Region of Chile (the "Project"). The Technical Report was prepared by Ausenco Chile Limitada and is dated August 29, 2025, with an effective date of July 15, 2025. The Technical Report can be viewed under Railtown's issuer profile on SEDAR+ at www.sedarplus.ca.

For additional information, please refer to the Technical Report and the Previous Release filed under Railtown's issuer profile on SEDAR+ at www.sedarplus.ca.

About Tiernan Gold Corp.

Tiernan Gold Corp. is a corporation formed under the laws of the Province of British Columbia and a wholly-owned indirect subsidiary of Hochschild Mining PLC (LSE: HOC) (OTCQX: HCHDF), a public company existing under the laws of England and Wales. Tiernan is focused on the disciplined de-risking of the Volcan Project. The Project is strategically located in the Atacama Region of Chile, on the Maricunga gold belt, a jurisdiction that has a long-established history of mining with a number of operating mines, new mines under construction and major projects being developed.

About Railtown Capital Corp.

Railtown Capital Corp. was incorporated under the BCBCA on June 22, 2020. Railtown is listed on the TSX Venture Exchange (the "TSXV") and classified as a capital pool company as defined by TSXV Policy 2.4. Railtown's objective is to complete a "Qualifying Transaction" as defined under TSXV Policy 2.4 by identifying and evaluating potential business acquisitions and to subsequently negotiate acquisition or participation agreements subject to regulatory and shareholder approvals. The shares in Railtown were listed on the TSXV on February 1, 2021 under the trading symbol "RLT.P". Its head office is in Vancouver, British Columbia. 1559261 B.C. Ltd., a wholly owned subsidiary of Railtown, was incorporated under the BCBCA on October 2, 2025.

Trading in the common shares of Railtown is currently halted and will remain halted until completion of the proposed transaction with Tiernan. Railtown does not intend to apply to the TSXV for reinstatement of trading of the common shares of Railtown at this time.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and neither Railtown nor Tiernan assumes any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to the Project and the Technical Report, including, but not limited to, inferred, indicated or measured mineral resources or mineral reserves on and anticipated costs and other economics associated with the Project.

In making the forward-looking statements included in this news release, Railtown and Tiernan have applied several material assumptions, including that that the inferred, indicated or measured mineral resources or mineral reserves on and anticipated costs and other economics associated with the Project are as anticipated.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Railtown and Tiernan to control or predict, that may cause either company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to the risks that the inferred, indicated or measured mineral resources or mineral reserves on and anticipated costs and other economics associated with the Project are not as anticipated; as well as the general risk factors related to exploration and development as are set out under the heading "Risk Factors" in Railtown's most recent management discussion and analysis filed under its issuer profile on SEDAR+ at www.sedarplus.ca.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Neither Railtown nor Tiernan undertakes to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

The information contained or referred to in this news release with respect to Tiernan and the Project has been provided by the management of Tiernan and is the responsibility of Tiernan. Management of Railtown has relied upon Tiernan for the accuracy of the information provided by Tiernan without independent verification.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271270

October 21, 2025 1:00 AM EDT | Source: HIVE Digital Technologies Ltd.
This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024.

San Antonio, Texas--(Newsfile Corp. - October 21, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified leader in sustainable blockchain and artificial intelligence ("AI") infrastructure, today announced it has signed a definitive agreement to develop an additional 100 megawatt ("MW") hydroelectric-powered data-center campus at its Yguazú site in Paraguay.

This Phase 3 expansion will increase HIVE's total renewable capacity in Paraguay to 400 MW. Management expects this addition, also powered by renewable hydroelectric energy from the Itaipú Dam, to be the largest facility of its kind in Paraguay, and to increase HIVE's global Bitcoin target to 35 Exahash per second ("EH/s") for 2026.

Strategic Expansion in Paraguay

Phase 3 follows the successful completion of Phase 1 (April 2025) and Phase 2 (September 2025), bringing Yguazú to its designed 300 MW capacity powered by clean hydro electricity from the Itaipú Dam.

With civil and electrical infrastructure already engineered for 300 MW, construction of Phase 3 will begin in early 2026, with full commissioning targeted for Q3 2026. Once complete, HIVE's total renewable infrastructure footprint will reach 540 MW across three countries-400 MW in Paraguay and 140 MW across Canada and Sweden.

Frank Holmes, HIVE's Executive Chairman, commented: "Our expansion in Paraguay reinforces HIVE's long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy. Operating across nine time zones, five languages, and three nations, HIVE continues to execute with efficiency, innovation, and first-mover advantage. We've scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. With the advent of next generation ASIC miners, this additional 100 MW provides a path to a potential 35 EH/s in 2026-a milestone that reflects both our operational excellence and our global growth ambition."

Aydin Kilic, President & CEO, added: "This expansion strengthens both engines of our business model. Tier 1 Bitcoin mining drives robust cash flow and network share, while Tier 3 high-performance computing ("HPC") and AI-our BUZZ HPC division-builds diversified growth in next-generation computing. Led by Craig Tavares, BUZZ HPC is our center of excellence for sovereign AI cloud and GPU-accelerated workloads, developing Tier 3+ liquid-cooled data centers purpose-built for AI model training, inference, and scientific computing. Our strategic partnership with Bell Canada, through the Bell AI Fabric initiative, integrates BUZZ's AI infrastructure with Bell's national fiber network and data-centers to deliver one of Canada's most advanced sovereign AI ecosystems. This collaboration enables government, enterprise, and research clients to securely access BUZZ's GPU compute clusters all powered by clean energy. Through this partnership and our Toronto buildout, we expect to 5x our HPC capacity in 2026. HIVE's turbo-charged twin-engine model-Tier 1 for Bitcoin, Tier 3 for AI-positions us as a global digital-infrastructure leader at the intersection of blockchain and artificial intelligence."

Gabriel Lamas, Country President of HIVE Paraguay, stated: "This additional 100 MW expansion brings Yguazú to full design capacity. Our engineering teams are ready-civil works and substation pads are complete. This milestone strengthens Paraguay's position as a regional hub for clean energy innovation and underscores HIVE's role as a trusted infrastructure partner in Latin America."

2026 Strategic Outlook

In 2026, HIVE expects to continue scaling both its Tier 1 Bitcoin and Tier 3 HPC divisions.

Bitcoin Operations: Targeting > 35 EH/s global capacity, supported by next-generation ASIC technology and low-cost renewable power.HPC & AI Cloud: Targeting 5x processing growth, enabling large-language-model training, AI inference services, and sovereign AI compute for Canadian institutions and enterprise clients.Backed by strategic partnerships, renewable energy assets, and a proven record of operational excellence, HIVE Digital Technologies is uniquely positioned to lead the next era of sustainable digital infrastructure.

About HIVE Digital Technologies Ltd.

Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered exclusively by green energy. Today, HIVE builds and operates next-generation blockchain and AI data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing (HPC) clients. HIVE's twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain

On Behalf of HIVE Digital Technologies Ltd.

"Frank Holmes"
Executive Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the performance of the Comp[any's existing operations, the construction of the Company's facility in Yguazu, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.

The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271124

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares ("ADS" or "ADSs") of WPP plc (NYSE: WPP) between February 27, 2025 and July 8, 2025, both dates inclusive (the "Class Period"), of the important December 8, 2025 lead plaintiff deadline.

So what: If you purchased WPP plc ADSs during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the WPP plc class action, go to https://rosenlegal.com/submit-form/?case_id=46121mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of WPP's media arm; notably, that it was not truly equipped to handle the ongoing macroeconomic challenges while competing effectively and had instead begun to lose significant market share to its competitors. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the WPP plc class action, go to https://rosenlegal.com/submit-form/?case_id=46121mailto:call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+

Newsrooms &

Influencers

9k+

Digital Media

Outlets

270k+

Journalists

Opted In

STOCKHOLM , Oct. 21, 2025 /PRNewswire/ -- Third quarter 2025 Organic sales growth was flat. Net sales decreased by 5% to SEK 9,204m (9,739).

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Ethereum (ETH) has been showing signs of recovery after recent market turbulence, sparking renewed optimism among traders and analysts. As of October 20, 2025, ETH is trading around $3,941 (IDR 65,829,337), marking a 1.83% increase in the past 24 hours.

Journalist

Posted: October 21, 2025

Key Takeaways 
What does rising whale accumulation signal?
Over $15M in LINK has been withdrawn from Binance by new wallets, showing growing whale conviction and aligning with early signs of technical recovery.

Will Chainlink see sustained bullish momentum?
A steady sentiment rebound and taker buy dominance in Futures markets indicate traders are reinforcing LINK’s recovery toward a decisive breakout above $27.

Whale data reveals that three newly created wallets collectively withdrew over 825,000 Chainlink [LINK] tokens, worth approximately $15 million, from Binance. 

This transfer pattern suggests that large investors are moving holdings off exchanges in anticipation of higher valuations. 

Historically, such withdrawals correlate with accumulation phases rather than distribution.

This accumulation aligns with a broader uptick in LINK’s network engagement, which often acts as a precursor to significant rallies. 

However, traders remain cautious as LINK still trades within a broader consolidation structure awaiting breakout confirmation.

Could $20 mark LINK’s next key test?
LINK has rebounded sharply from the $16.5 support zone within a descending channel, suggesting a potential bullish reversal. 

The price now targets the $20.02 resistance, with a breakout beyond this level possibly accelerating toward $23.72 and $27.89. This structure highlights an emerging recovery pattern after several weeks of lower highs. 

Furthermore, the strength of recent daily candles indicated that bullish momentum was gradually overpowering sell pressure. 

However, rejection at $20 could extend the consolidation phase before a decisive breakout attempt occurs.

Source: TradingView

Social dominance rebounds steadily
Santiment data shows that Chainlink’s social dominance has rebounded to 0.74%, indicating that market discussions around LINK are steadily increasing.

This gradual climb suggests a healthy resurgence in community interest rather than short-lived hype.

Historically, rising social dominance during accumulation phases strengthens bullish setups as awareness and engagement drive liquidity inflows.

Moreover, the alignment between this recovery and whale accumulation highlights improving confidence across both retail and institutional segments.

The consistent rise in visibility supports the view that LINK’s momentum is regaining traction after weeks of subdued attention.

Chainlink traders bet on further upside
The 90-day CVD (Cumulative Volume Delta) data confirmed strong taker buy dominance, showing more market buys than sells across futures markets. 

This indicated that traders were increasingly positioning for continued upside, aligning with the ongoing on-chain accumulation trend.

Such a balance between spot and derivatives activity strengthens the bullish case for LINK’s mid-term trajectory. 

Furthermore, rising Open Interest supports the view that capital is returning to the LINK market after weeks of decline.

Can momentum push Chainlink beyond $27?
Chainlink’s growing whale accumulation, steady sentiment recovery, and strong buy-side dominance in derivatives collectively confirm a powerful bullish setup. 

The convergence of these factors reinforces that LINK’s momentum is no longer speculative but structurally supported. 

With whales accumulating and traders showing conviction, LINK now stands poised to break above the $27 barrier, marking the start of a new upward phase in its market cycle.

In brief
Solana Company (HSDT) opened resale for investors following a $500 million raise led by Pantera Capital and Summer Capital
Shares fell more than 20% Monday after the resale registration took effect, expanding the tradable float.
Leadership says proceeding now, rather than waiting for calmer markets, demonstrates conviction and transparency in its Solana-based treasury model
Solana Company (NASDAQ: HSDT), formerly known as Helius Medical Technologies, says it is playing offense as it opens resale for private investors, a move that could test confidence in its new Solana-linked digital asset treasury.

The company finalized its resale registration on Monday, granting private-placement investors the right to sell shares tied to its digital asset treasury pivot. 

The filing unlocked previously restricted stock from its September funding round, allowing early backers to offload positions and triggering a sharp sell-off in HSDT shares.

“We're playing the long game, and we're inviting you to join us. We're playing offense, not defense. Thank you for your trust and partnership,” Joseph Chee, executive chairman of Solana Company, said in a statement.

HSDT shares opened at $8.92 and closed at $6.87 on Monday, according to Nasdaq data, marking a steep 22% intraday decline as resale eligibility for private investors took effect.

About 60% of the company’s value was wiped out over the past week, with daily trading volume rising on October 15 from less than 1 million shares to about 4.6 million by Monday.

Its leadership argues that opening the resale window now, rather than waiting for calmer markets, shows confidence in the firm’s long-term strategy and commitment to transparency.

“Markets can be volatile, and digital asset treasury companies will continue to experience volatility with the broader macro market,” Chee explained.

The same resale registration statement details how Solana Company raised roughly $500 million in mid-September through twin private placements: one is funded in cash and the other in Solana (SOL) tokens, pulled from investors including Pantera Capital and Summer Capital.

Proceeds were used to accumulate SOL for the firm’s new digital asset treasury strategy, while the registration allows those private investors to resell their shares publicly once approved by the SEC.

Before turning to Solana, Helius was a medical device maker. To date, Solana Company ranks as the second-largest publicly traded Solana treasury firm with 2.2 million SOL held, as of early October.

Solana Company’s approach combines staking-based yield, the accumulation of SOL during market dislocations, and the use of a listed vehicle for regulated market access. The structure ostensibly shifts price discovery to equity investors, instead of token holders.

But unlike earlier corporate Bitcoin treasuries, the model embeds Solana exposure directly into the stock, concentrating both performance and risk within a single market instrument.

“When the non-believers are flushed out, HSDT can continue to accrete Solana per share. We can buy aggressively when others are fearful,” Chee wrote. “We believe we can compound Solana per share holdings through disciplined capital allocation.”

Decrypt reached out to Solana Company, Pantera Capital, and Summer Capital for further comment, but did not immediately receive a response.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Key Takeaways
Are institutions still bullish on Bitcoin’s future?
Nearly 67% expect BTC prices to rise through 2026.

Is Bitcoin still in an accumulation phase?
Whales and long-term holders continue to accumulate despite volatility.

Institutional conviction in Bitcoin [BTC] is growing, but so is the debate around its current phase.

While most large investors reportedly expect BTC to climb higher through 2026, there’s no clear consensus on whether the market is still in early expansion or nearing its next peak.

TradFi perhaps, sees Bitcoin’s market cycle very differently.

Institutions stay bullish, but questions remain
A new Coinbase survey titled “Navigating Uncertainty” revealed that institutions remain optimistic about Bitcoin’s trajectory, with nearly 67% expecting prices to climb through 2026.

Source: Coinbase

However, opinions are split on where the market stands right now. Around 45% of institutions believe we’re in the later stages of the bull run, while others think there’s still room for growth.

Meanwhile, sustained confidence is evident. Major players like Tom Lee’s BitMine and Michael Saylor’s Strategy have bought the dip with Ethereum [ETH] and BTC respectively.

Whales are leading the accumulation wave

Conviction over speculation

Source: Coinbase

Community members call for changes as concerns grow over protocol capture and developer recognition within Ethereum.

Photo: Shubham Dhage

Key Takeaways

Péter Szilágyi, lead developer for Ethereum's Geth client, publicly criticized the Ethereum Foundation's centralization and Vitalik Buterin's dominant influence over protocol decisions.
Szilágyi warned that the current governance structure risks protocol capture by insiders, undermining Ethereum's decentralized ethos.

Péter Szilágyi, a lead developer for Ethereum’s Geth client, has raised concerns about Vitalik Buterin’s dominant influence over the protocol and criticized the Ethereum Foundation’s centralized decision-making structure in a public letter released today.

In his letter, Szilágyi highlighted that the Ethereum Foundation’s structure allows a small group centered around Buterin to heavily influence project directions, creating risks of protocol capture by insiders. The core developer described Buterin’s central role in roadmap decisions as contributing to “non-decentralized governance.”

Szilágyi also criticized the foundation’s treatment of long-term contributors, noting that developers like himself have been underappreciated, leading to “diminished roles and external income pursuits among core developers.” His concerns reflect broader community discussions about concentrated influence within Ethereum’s governance structure.

The Ethereum Foundation, a non-profit organization overseeing Ethereum’s development, is now facing internal critiques regarding both its centralized decision-making processes and compensation practices for core developers.

Disclaimer

Follow up to the hour updates on what is happening in crypto today, October 21. Market movements, crypto news, and more!

Barbara Humpton, USA Rare Earth CEO, joins CNBC's 'Money Movers' to discuss how the private sector can bolster the rare earth supply chain, how the government could create market incentives, and much more.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The author is not an investment advisor and offers no advice here. He shares his own analysis solely for the interest of readers.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

(CUSIP NOS. 05151A AA1 / L0415A AA1)

LUXEMBOURG--(BUSINESS WIRE)--Auna S.A. (NYSE: AUNA), a public limited liability company (société anonyme) incorporated and existing under the laws of Luxembourg, having its registered office at 6, rue Jean Monnet, L-2180 Luxembourg, and registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B267590 (“Auna” or the “Company”), a Latin American healthcare company with operations in Mexico, Peru and Colombia, announced today the commencement of an offer to purchase for cash of any and all of the outstanding 10.000% Senior Notes due 2029 issued by Auna (the “Notes”), upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated October 20, 2025 (the “Offer to Purchase”) for the consideration described below (the “Tender Offer”). All capitalized terms used herein but not defined in this announcement have the respective meanings ascribed to them in the Offer to Purchase.

Simultaneously with the Tender Offer, we are conducting a solicitation of consents (the “Consent Solicitation”) from Holders of the Notes to effect certain proposed amendments to the indenture governing the Notes dated as of December 18, 2023 (as amended and supplemented from time to time, the “Base Indenture”), by and among the Company, the guarantors party thereto (the “Guarantors”) and Citibank, N.A., as trustee, paying agent, registrar and transfer agent (the “Trustee”), under which the Notes were issued, as amended and supplemented by a first supplemental indenture dated October 18, 2024 by and among, the Company, the Guarantors and the Trustee (the “First Supplemental Indenture” and together with the Base Indenture, the “Indenture”). The Proposed Amendments (as defined below) with respect to the Indenture would eliminate substantially all of the restrictive covenants as well as certain events of default and related provisions contained therein, as further described in the Offer to Purchase (the “Proposed Amendments”). Pursuant to the terms of such Indenture, the Proposed Amendments require the consents of Holders of at least a majority in aggregate principal amount of the Notes outstanding (excluding any Notes held by the Company or its affiliates) (the “Requisite Consents”). The term “Holder” means a registered holder of Notes.

Holders that tender their Notes pursuant to the Tender Offer and in accordance with the procedures described in this Offer to Purchase will be deemed to have delivered their consent to the Proposed Amendments pursuant to the Consent Solicitation. Holders may not deliver consents to the Proposed Amendments without tendering the related Notes. If a Holder tenders Notes in the Tender Offer, such Holder will be deemed to deliver its consent, with respect to the principal amount of such tendered Notes, to the Proposed Amendments.

The following table summarizes certain payment terms of the Tender Offer and Consent Solicitation:

Title of Security

ISIN/CUSIP Numbers

Principal Outstanding Amount

Tender Offer Consideration(1)

Early Tender Payment(1)(2)

Total Consideration(1)

10.000% Senior Secured Notes due 2029

US05151AAA16/

USL0415AAA18

05151A AA1 /

L0415A AA1

U.S.$372,937,161

U.S.$1,020

U.S.$50

U.S.$1,070

The Tender Offer will expire at 5:00 p.m., New York City time, on November 18, 2025, unless extended or earlier terminated by the Company (such time and date, as it may be extended or earlier terminated with respect to the Tender Offer and related Consent Solicitation, the “Expiration Date”). Holders who validly tender (and do not validly withdraw) their Notes and deliver (and do not revoke) their related consents to the Proposed Amendments at or prior to 5:00 p.m., New York City time, October 31, 2025, unless extended by the Company (such time and date, as the same may be extended, the “Early Tender Date”), in the manner described in the Offer to Purchase will be eligible to receive the Total Consideration, which includes the Early Tender Payment with respect to the Notes, plus any Accrued Interest. Notes tendered may be withdrawn and consents delivered may be revoked at any time at or prior to 5:00 p.m., New York City time, October 31, 2025, unless extended by the Company (such time and date, as the same may be extended, the “Withdrawal Deadline”), but not thereafter, except as may be required by applicable law.

To be eligible to receive the Total Consideration set forth in the table above, Holders must validly tender and not validly withdraw their Notes at or prior to the Early Tender Date. Holders who do not validly tender their Notes at or prior to the Early Tender Date will not be paid the Early Tender Payment and will only be eligible to receive the Tender Offer Consideration. All Holders who validly tender their Notes will also receive accrued and unpaid interest on the Notes from the last interest payment date on the Notes preceding the applicable Settlement Date to, but excluding, such Settlement Date (as defined herein). In addition, in the event of a termination of the Tender Offer and Consent Solicitation, none of the Total Consideration, the Tender Offer Consideration or any Accrued Interest will be paid or become payable to the Holder of such Notes, and the Notes tendered pursuant to the Tender Offer will be promptly returned to the tendering Holders.

At the Company’s option, payment for Notes validly tendered at or prior to the Early Tender Date and accepted for purchase will be made on the early settlement date, expected to be within four business days following the Early Tender Date, or November 6, 2025, or as promptly as practicable thereafter (the “Early Settlement Date”).

If the Early Settlement Date occurs with respect to the Notes, payment for Notes validly tendered after the Early Tender Date and at or prior to the Expiration Date and accepted for purchase will be made on the final settlement date, expected to be within three business days following the Expiration Date, or November 21, 2025, or as promptly as practicable thereafter (the “Final Settlement Date”). The Notes validly tendered after the Early Tender Date but at or prior to the Expiration Date and so accepted will receive the Tender Offer Consideration, plus any Accrued Interest, on the Final Settlement Date, but not the Early Tender Payment. If no Early Settlement Date occurs, then payment for all the Notes that are validly tendered and not validly withdrawn at any time prior to the Expiration Time and that are accepted for purchase will be made on the Final Settlement Date.

Auna’s obligation to purchase Notes pursuant to the Tender Offer is subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase and Consent Solicitation Statement under “The Tender Offer and Consent Solicitation—Conditions to the Tender Offer and Solicitation,” which include, (i) the receipt of the Requisite Consents and (ii) the successful consummation of a Proposed New Notes Offering and a Proposed Term Loan (each as defined in the Offer to Purchase).

Auna reserves the right, in its sole discretion, (1) to waive any and all conditions to the Tender Offer or Consent Solicitation; (2) to extend the Tender Offer or Consent Solicitation; and (3) to terminate or to otherwise amend the Tender Offer or Consent Solicitation in any respect.

At any time after the Withdrawal Deadline and before the Expiration Date, if we have received the Requisite Consents, on such date, we, each of the Guarantors of the Notes and the Trustee may execute and deliver a second supplemental indenture to the Indenture, which will give effect to the Proposed Amendments to the Notes.

Neither the Offer to Purchase nor any related documents have been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer to Purchase or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary.

The Tender and Information Agent for the Tender Offer and Consent Solicitation is Global Bondholder Services Corporation. Additional contact information of the Tender and Information Agent is set forth below.

Global Bondholder Services Corporation

Any questions or requests for assistance or for copies of the Offer to Purchase may be directed to the Tender and Information Agent at one of its telephone numbers above. A Holder (or a beneficial owner that is not a Holder) may also contact the Dealer Managers and Solicitation Agents at their telephone numbers set forth below or its broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Tender Offer and Consent Solicitation.

This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the Notes or any other securities in the United States or any other country, nor shall it or any part of it, or the fact of its release, form the basis of, or be relied on or in connection with, any contract therefor. The Tender Offer and Solicitation are made only by and pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement, and the information in this notice is qualified by reference to the Offer to Purchase and Consent Solicitation Statement. None of Auna, the Guarantors, the Dealer Managers and Solicitation Agents or the Tender and Information Agent makes any recommendation as to whether Holders should tender their Notes pursuant to the Tender Offer and Solicitation.

This notice is not an offer to sell or a solicitation of an offer to buy New Notes (as defined in the Offer to Purchase). Tendering Holders who wish to tender their Notes for cash and also subscribe for New Notes should quote a unique identifier code corresponding to the New Notes being subscribed (“Unique Identifier Code”), which can be obtained by contacting the Dealer Managers and Solicitation Agents. The receipt of a Unique Identifier Code in conjunction with any tender of Notes in the Tender Offer is not an allocation of the New Notes. In order to apply for the purchase of the New Notes, such tendering Holders must make a separate application in respect of the New Notes for the purchase of such New Notes. If the Proposed New Notes Offering is announced, the Company will review tender instructions received on or prior to the pricing of the New Notes, and may give priority to those investors tendering with Unique Identifier Codes in connection with the allocation of New Notes. However, no assurances can be given that any Holder that tenders its Notes will be given an allocation of New Notes at the levels it may subscribe for, or at all.

About Auna

Auna is one of Latin America’s leading healthcare platforms, with operations in Mexico, Peru, and Colombia. It prioritizes prevention and focuses on complex diseases that represent the highest healthcare spending. Its mission is to transform healthcare by delivering access to a highly integrated offering of services in low-penetration markets across Spanish-speaking Latin America.

Founded in 1989, Auna has built one of the region’s largest modern healthcare platforms, consisting of a horizontally integrated network of medical care centers and a vertically integrated portfolio of oncology and general health plans. As of June 30, 2025, Auna’s network included 31 healthcare facilities—hospitals, ambulatory centers, and prevention and wellness centers—with a total of 2,323 beds and 1.4 million health plan members.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are proceeded by words such as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,” “assumes,” “will” or similar expressions. The forward-looking statements contained herein include statements about the Company’s Tender Offer and Consent Solicitation and potential new financings. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, Auna’s business and operations involve numerous risks and uncertainties, many of which are beyond the control of Auna, which could result in Auna’s expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of Auna. Some of the factors that could cause future results to materially differ from recent results or those projected in forward-looking statements are described in Auna’s filings with the United States Securities and Exchange Commission, including its annual report filed on Form 20-F on April 10, 2025.

The forward-looking statements are made only as of the date hereof, and Auna does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions on which certain of such forward-looking statements are based, investors should keep in mind that the results, events or developments disclosed in any forward-looking statement made in this document may not occur, and that actual results may vary materially from those described herein, including those described as anticipated, expected, targeted, projected or otherwise.

More News From Auna S.A.

ATLANTA--(BUSINESS WIRE)--Please replace the logo with the accompanying corrected logo.

The release reads:

COASTALSOUTH BANCSHARES, INC. REPORTS EARNINGS FOR THIRD QUARTER 2025

CoastalSouth Bancshares, Inc. (“CoastalSouth” or the “Company”) (NYSE: COSO), the holding company for Coastal States Bank (the “Bank”), today reported net income of $6.7 million, or $0.54 per diluted share, for the third quarter of 2025, compared to approximately $6.0 million, or $0.57 per diluted share, for the second quarter of 2025, and $7.9 million, or $0.75 per diluted share, for the third quarter of 2024. For the year-to-date period ending September 30, 2025, the Company reported net income of $17.8 million, or $1.58 per diluted share, compared with $16.2 million, or $1.55 per diluted share, for the same period in 2024.

Commenting on the Company’s results, President and Chief Executive Officer, Stephen R. Stone stated, “Following the completion of our initial public offering on July 2, 2025, the Company continued to deliver excellent financial performance through the third quarter of 2025. Loan production continued to be robust with over $137.3 million in new commitments originated during the third quarter of 2025 while maintaining strong asset quality metrics. Given the recent acceleration of mergers and acquisition activity in our markets, we continue to focus on recruiting new bankers to expand our presence within our markets and grow new relationships."

Third Quarter 2025 Performance Highlights:

Net income of $6.7 million or $0.54 per diluted share

Return on average assets ("ROAA") of 1.20%

Return on average equity ("ROAE") of 10.84%; Return on average tangible common equity ("ROATCE") of 11.07%1

Net interest margin of 3.58%, an increase of 12 basis points from the second quarter of 2025

Efficiency ratio of 55.69% for the third quarter of 2025

Loans held for investment ("LHFI") production of $137.3 million in commitments led to LHFI growth of $25.8 million, up 6.7% annualized from the second quarter of 2025

Book value per share growth of $0.54, or 10.5% annualized, to $20.91 at September 30, 2025; Tangible book value1 per share growth of $0.61, or 12.2% annualized, to $20.49 at September 30, 2025 from the second quarter of 2025

Total shareholders' equity to total assets of 11.10%, compared to 9.43% at June 30, 2025; Tangible common equity1 to tangible assets1 of 10.91%, compared to 9.22% at June 30, 2025

Net charge-offs to average loans held for investment of 0.03%

Nonperforming assets to total assets of 0.63%; adjusted nonperforming assets to total assets1 of 0.43%

Allowance for credit losses ("ACL") on LHFI to total LHFI of 1.16%; ACL on LHFI to nonperforming loans of 127.03%

Completed initial public offering of 2,035,000 shares on July 2, 2025 with an initial offering price of $21.50. The Company issued 1,700,000 shares for net proceeds of $30.2 million following discounts, commissions, and expenses

Redeemed $15.0 million of subordinated debt; recognized $236 thousand of accelerated debt issuance expense

Operating Highlights

Net interest income totaled $19.2 million for the third quarter of 2025, an increase of $1.1 million, or 6.2%, from $18.1 million for the second quarter of 2025 and an increase of $2.2 million, or 13.1% from the third quarter of 2024. The Company’s net interest margin expanded to 3.58% for the third quarter of 2025, a 12 basis point increase from the second quarter of 2025 and a 26 basis point increase from the third quarter of 2024.

The yield on average interest-earning assets for the third quarter of 2025 increased to 6.14% from 6.08% for the second quarter of 2025. This increase was primarily related to an overall yield increase in all categories except a 2 basis point decrease in yield on LHFI albeit with an increased average volume of approximately $37.2 million in the LHFI portfolio quarter over quarter. The yield on available-for-sale securities was positively impacted by $225 thousand of premium recognized on corporate bonds that were called ahead of maturity. Compared to the third quarter of 2024, yields on earning assets decreased 23 basis points to 6.14% from 6.37%. The decrease was primarily attributable to a 37 basis point decrease in LHFI, a 26 basis point decrease in the yield on the loans held for sale ("LHFS") portfolio, and a net decrease in other earning assets categories.

The Company’s total cost of funds was 2.79% for the third quarter of 2025, a decrease of 1 basis point and 45 basis points compared with the second quarter of 2025 and third quarter of 2024, respectively. The cost of funds was impacted by the recognition of a $236 thousand debt issuance costs which were accelerated due to redemption of the Company's subordinated debt. Deposit costs decreased 3 basis points during the third quarter of 2025 to 2.72%, compared to 2.75% in the second quarter of 2025. The cost of interest-bearing deposits decreased 4 basis points during the third quarter of 2025 to 3.23%, compared with 3.27% in the second quarter of 2025, reflecting continued repricing of certificates of deposits in the third quarter of 2025.

Noninterest income totaled $2.1 million for the third quarter of 2025, an increase of $305 thousand, or 17.0%, from the second quarter of 2025, primarily attributable to an increase in gain on sale of government guaranteed loans ("GGL"). Noninterest expense totaled $11.9 million for the third quarter of 2025, a decrease of $236 thousand, or 2.0%, from the second quarter of 2025, primarily due to lower other professional fees, offset by a net increase in other noninterest expense categories.

The Company’s effective tax rate for the third quarter of 2025 was 23.2%, compared to 15.1% for the second quarter of 2025 and 22.1% for the third quarter of 2024. The increase in effective tax rate from the second quarter of 2025 was primarily due to a higher recognition of renewable energy tax credits in the second quarter of 2025.

Balance Sheet Trends

Total assets were $2.26 billion at September 30, 2025, an increase of $156.7 million, or 7.5%, from $2.10 billion at December 31, 2024. LHFS were $231.6 million at September 30, 2025, an increase of $57.6 million, or 33.1%, from $174.0 million at December 31, 2024. Gross LHFI were $1.55 billion at September 30, 2025, an increase of $143.5 million, or 10.2%, from $1.41 billion at December 31, 2024.

Total deposits were $1.95 billion at September 30, 2025, an increase of $114.9 million, or 6.3%, from $1.83 billion at December 31, 2024. Noninterest-bearing deposits were $313.6 million at September 30, 2025, or 16.1% of total deposits, compared to $302.9 million, or 16.5% of total deposits, at December 31, 2024. Brokered certificates of deposits, a component of time deposits, were $294.9 million at September 30, 2025, as compared to $274.9 million at December 31, 2024, an increase of $20.0 million, or 7.3%.

Credit Quality

During the third quarter of 2025, the Company recorded a provision (recovery) for credit losses of $653 thousand, compared to $752 thousand and ($1.0) million during the second quarter of 2025 and third quarter of 2024, respectively. The provision expense recorded during the third quarter of 2025 was primarily due to increased loan production and current period net charge-offs, offset by other changes in loss rates and economic factors. The Company's annualized net charge-offs to average LHFI ratio was 0.03% for the third quarter of 2025 as compared to 0.06% and 0.02% during the second quarter of 2025 and third quarter of 2024, respectively.

Nonperforming assets totaled $14.2 million, or 0.63% of total assets, at September 30, 2025 compared to $15.9 million, or 0.76% of total assets at December 31, 2024. The $1.7 million decrease in nonperforming assets at September 30, 2025 from December 31, 2024 was due to the sale of other real estate owned and payments collected on nonaccrual loans during the period. Adjusted nonperforming assets2, which excludes the guaranteed portions of nonaccrual loans, was $9.7 million, or 0.43% of total assets, at September 30, 2025 compared to $11.1 million, or 0.53% of total assets, at December 31, 2024.

About CoastalSouth Bancshares, Inc.

CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. To learn more about Coastal States Bank, visit www.coastalstatesbank.com.

Forward-Looking Statements

Statements in this press release regarding future events and our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical in nature and may be identified by references to a future period or periods by the use of the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this press release should not be relied on because they are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of known and unknown risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, and other factors, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this press release and could cause us to make changes to our future plans.

Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; potential impacts of any adverse developments in the banking industry, including any impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; changes in the interest rate environment, including changes to the federal funds rate; changes in prices, values and sales volumes of residential and commercial real estate; competition in our markets that may result in increased funding costs or reduced earning assets yields, thus reducing margins and net interest income; interest rate fluctuations, which could have an adverse effect on the Company’s profitability; a breach in security of our information systems, including the occurrence of a cyber-attack incidents or a deficiencies in cyber security; risks related to potential acquisitions; government actions or inactions, including a prolonged shutdown of the federal government, tariffs, or trade wards (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), legislation or regulatory changes which could adversely affect the ability of the consolidated Company to conduct business combinations or new operations; changes in tax laws; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; the effects of war or other conflicts, domestic civil unrest and tyranny, and changes in the overall geopolitical landscape; and adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized.

Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s final prospectus filed pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended, filed with the Securities and Exchange Commission (the “SEC”) on July 2, 2025 (Registration No. 333-287854), relating to our initial public offering, and in other documents that we file with the SEC from time to time, which are available on the SEC’s website, http://www.sec.gov.

In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release or to make predictions based solely on historical financial performance.

Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this press release are qualified in their entirety by this cautionary statement.

COASTALSOUTH BANCSHARES, INC. AND SUBSIDIARY

FINANCIAL TABLES

 

Financial Highlights (unaudited)

Table 1A

As of and for the Three Months Ended

As of and for the Nine Months Ended

(dollars in thousands except

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

per share amounts)

2025

2025

2025

2024

2024

2025

2024

Selected Operating Data:

Interest income

$

32,890

$

31,793

$

30,024

$

30,537

$

32,554

$

94,707

$

93,112

Interest expense

13,700

13,715

13,265

14,266

15,588

40,680

44,061

Net interest income

19,190

18,078

16,759

16,271

16,966

54,027

49,051

Provision (recovery) for credit losses

653

752

629

1,240

(1,023

)

2,034

(687

)

Noninterest income

2,100

1,795

1,881

1,958

2,961

5,776

2,556

Noninterest expense

11,856

12,092

11,419

10,335

10,830

35,367

31,733

Income tax expense

2,040

1,064

1,542

950

2,236

4,646

4,361

Net income

6,741

5,965

5,050

5,704

7,884

17,756

16,200

Adjusted net income (1)

6,749

5,965

5,050

5,704

7,884

17,764

18,854

Share and Per Share Data:

Basic earnings per share

$

0.57

$

0.58

$

0.49

$

0.56

$

0.77

$

1.64

$

1.59

Adjusted basic earnings

per share (1)

$

0.57

$

0.58

$

0.49

$

0.56

$

0.77

$

1.64

$

1.85

Diluted earnings per share

$

0.54

$

0.57

$

0.47

$

0.54

$

0.75

$

1.58

$

1.55

Adjusted diluted earnings

per share (1)

$

0.54

$

0.57

$

0.47

$

0.54

$

0.75

$

1.58

$

1.81

Book value per share

$

20.91

$

20.37

$

19.67

$

19.01

$

18.86

$

20.91

$

18.86

Tangible book value per share (1)

$

20.49

$

19.88

$

19.17

$

18.51

$

18.35

$

20.49

$

18.35

Shares of common stock outstanding

11,978,921

10,278,921

10,274,271

10,270,146

10,250,446

11,978,921

10,250,446

Weighted average diluted shares

outstanding

12,325,462

10,612,255

10,642,078

10,596,364

10,544,087

11,217,972

10,420,646

Selected Balance Sheet Data:

Total assets

$

2,255,389

$

2,221,245

$

2,190,391

$

2,098,712

$

2,129,346

$

2,255,389

$

2,129,346

Securities available-for-sale, at

fair value (2)

334,955

331,760

325,478

335,267

355,174

334,955

355,174

Gross loans held for investment

1,552,976

1,527,199

1,472,232

1,409,443

1,409,913

1,552,976

1,409,913

Loans held for sale

231,593

209,101

187,481

174,033

193,938

231,593

193,938

Allowance for credit losses

18,028

17,497

17,104

17,118

15,615

18,028

15,615

Goodwill and other intangible assets

6,186

6,190

6,199

6,386

6,451

6,186

6,451

Total deposits

1,949,672

1,968,301

1,937,693

1,834,802

1,807,315

1,949,672

1,807,315

Core deposits (1)

1,654,764

1,660,409

1,650,358

1,559,904

1,628,706

1,654,764

1,628,706

Other borrowings

25,000

14,753

20,738

41,725

96,712

25,000

96,712

Total Shareholders' equity

250,438

209,365

202,104

195,232

193,303

250,438

193,303

Financial Highlights - continued (unaudited)

Table 1B

 

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Performance Ratios:

Pre-tax pre-provision net revenue

(PPNR) (1)

$

9,434

$

7,781

$

7,221

$

7,894

$

9,097

$

24,436

$

19,874

Return on average assets (ROAA) (2)

1.20

%

1.09

%

0.97

%

1.07

%

1.47

%

1.09

%

1.04

%

Adjusted return on average assets

(Adj. ROAA) (1)(2)

1.20

1.09

0.97

1.07

1.47

1.09

1.21

Return on average equity (2)

10.84

11.62

10.25

11.65

16.91

10.91

12.30

Adjusted return on average equity (1)(2)

10.85

11.62

10.25

11.65

16.91

10.91

14.32

Return on average tangible common

equity (ROATCE) (1)(2)

11.07

11.92

10.52

11.97

17.40

11.17

12.68

Adjusted return on average tangible

common equity (Adj. ROATCE) (1)(2)

11.08

11.92

10.52

11.97

17.40

11.18

14.76

Net interest rate spread (2)

2.83

2.76

2.67

2.42

2.48

2.76

2.50

Net interest margin (2)

3.58

3.46

3.38

3.21

3.32

3.48

3.32

Efficiency ratio

55.69

60.85

61.26

56.70

54.35

59.14

61.49

Efficiency ratio, as adjusted (1)

55.66

60.85

61.26

56.70

54.35

59.13

57.62

Noninterest income to average total

assets (2)

0.37

0.33

0.36

0.37

0.55

0.35

0.16

Noninterest income to total revenue

9.86

9.03

10.09

10.74

14.86

9.66

4.95

Adjusted noninterest income to total

adjusted revenue (1)

9.91

9.03

10.09

10.74

14.86

9.67

10.93

Noninterest expense to average total assets (2)

2.11

2.21

2.19

1.94

2.02

2.17

2.04

Average interest-earning assets to average

interest-bearing liabilities

129.16

126.50

126.31

127.90

127.59

127.34

127.63

Average equity to average total assets

11.08

9.37

9.46

9.20

8.70

9.99

8.47

Asset Quality Data:

Net charge-offs to average LHFI (2)

0.03

%

0.06

%

0.00

%

(0.02

)

%

0.02

%

0.03

%

0.02

%

Net charge-offs to total average loans (2)

0.03

0.05

0.00

(0.02

)

0.02

0.03

0.02

Total allowance for credit losses

to total LHFI

1.16

1.15

1.16

1.21

1.11

1.16

1.11

Total allowance for credit losses

to total loans

1.01

1.01

1.03

1.08

0.97

1.01

0.97

Total allowance for credit losses

to nonperforming loans

127.03

118.99

117.11

114.07

184.64

127.03

184.64

Nonperforming loans to gross LHFI

0.91

0.96

0.99

1.06

0.60

0.91

0.60

Nonperforming assets to total assets

0.63

0.66

0.70

0.76

0.44

0.63

0.44

Adjusted nonperforming assets to total

assets (1)

0.43

0.46

0.49

0.53

0.21

0.43

0.21

Balance Sheet and Capital Ratios:

Loan-to-deposit ratio

91.53

%

88.21

%

85.65

%

86.30

%

88.74

%

91.53

%

88.74

%

Noninterest bearing deposits to

total deposits

16.08

15.92

15.52

16.51

17.28

16.08

17.28

Total shareholders' equity to total assets

11.10

9.43

9.23

9.30

9.08

11.10

9.08

Tangible common equity to tangible

assets (1)

10.91

9.22

9.01

9.08

8.86

10.91

8.86

Tier 1 leverage ratio (3)

11.15

10.22

10.62

10.64

10.26

11.15

10.26

Common equity tier 1 ratio (3)

11.94

11.09

11.55

12.07

11.72

11.94

11.72

Tier 1 risk-based capital ratio (3)

11.94

11.09

11.55

12.07

11.72

11.94

11.72

Total risk-based capital ratio (3)

12.90

12.04

12.52

12.97

12.55

12.90

12.55

Other:

Number of branches

11

11

11

11

11

11

11

Number of full-time equivalent

employees

194

188

180

181

181

187

180

Quarter End Balance Sheets (unaudited)

Table 2

September 30,

June 30,

March 31,

December 31,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

Assets

Cash and due from banks

$

20,088

$

23,245

$

19,380

$

37,320

$

17,722

Federal funds sold

6,191

20,045

79,153

30,641

43,602

Investment securities (1)

342,990

338,601

332,312

342,750

361,935

Loans held for sale (LHFS)

231,593

209,101

187,481

174,033

193,938

Loans held for investment (LHFI)

1,552,976

1,527,199

1,472,232

1,409,443

1,409,913

Allowance for credit losses on LHFI

(18,028

)

(17,497

)

(17,104

)

(17,118

)

(15,615

)

Loans held for investment, net

1,534,948

1,509,702

1,455,128

1,392,325

1,394,298

Bank-owned life insurance

47,833

47,373

46,924

46,484

46,044

Premises, furniture and equipment, net

18,186

18,166

17,837

17,796

17,882

Deferred tax asset

16,262

17,211

17,123

18,148

16,772

Goodwill & intangible assets (2)

6,186

6,190

6,199

6,386

6,451

Other assets

31,112

31,611

28,854

32,829

30,702

Total assets

$

2,255,389

$

2,221,245

$

2,190,391

$

2,098,712

$

2,129,346

Liabilities and shareholders' equity

Liabilities

Deposits

Noninterest bearing transaction accounts

$

313,604

$

313,386

$

300,678

$

302,907

$

312,290

Interest-bearing transaction accounts

198,753

209,816

191,452

181,068

183,707

Savings and money market

634,826

628,729

650,050

591,626

654,192

Time deposits

802,489

816,370

795,513

759,201

657,126

Total deposits

1,949,672

1,968,301

1,937,693

1,834,802

1,807,315

Federal Home Loan Bank of

Atlanta advances

25,000

-

-

15,000

-

Subordinated debt, net

-

14,753

14,741

14,730

14,718

Revolving commercial line of credit, net

-

-

5,997

11,995

11,994

Federal Reserve Bank - Bank Term

Funding Program ("BTFP") advances

-

-

-

-

70,000

Other liabilities

30,279

28,826

29,856

26,953

32,016

Total liabilities

2,004,951

2,011,880

1,988,287

1,903,480

1,936,043

Shareholders' equity

Voting common stock

10,449

8,107

8,102

8,098

8,078

Nonvoting common stock

1,530

2,172

2,172

2,172

2,172

Capital surplus

189,654

159,267

158,997

158,755

158,463

Accumulated income

59,750

53,009

47,044

41,994

36,290

Accumulated other comprehensive loss

(10,945

)

(13,190

)

(14,211

)

(15,787

)

(11,700

)

Total shareholders' equity

250,438

209,365

202,104

195,232

193,303

Total liabilities and shareholders' equity

$

2,255,389

$

2,221,245

$

2,190,391

$

2,098,712

$

2,129,346

Statements of Operations (unaudited)

Table 3

Three Months Ended

Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Interest income

Interest on cash and due from banks

$

129

$

111

$

135

$

122

$

131

$

375

$

412

Interest on federal funds sold

616

698

963

870

1,045

2,277

2,881

Interest and dividends on investment

securities

4,125

3,875

3,800

3,994

4,171

11,800

12,052

Interest and fees on LHFS

3,422

3,296

2,819

3,404

2,993

9,537

6,868

Interest and fees on LHFI

24,598

23,813

22,307

22,147

24,214

70,718

70,899

Total interest income

32,890

31,793

30,024

30,537

32,554

94,707

93,112

Interest expense

Deposits

13,274

13,251

12,830

13,498

14,230

39,355

39,945

Other borrowings

426

464

435

768

1,358

1,325

4,116

Total interest expense

13,700

13,715

13,265

14,266

15,588

40,680

44,061

Net interest income

19,190

18,078

16,759

16,271

16,966

54,027

49,051

Provision (recovery) for credit losses

653

752

629

1,240

(1,023

)

2,034

(687

)

Net interest income after provision for

credit losses

18,537

17,326

16,130

15,031

17,989

51,993

49,738

Noninterest income

Mortgage banking related income

299

326

221

391

276

846

813

Interchange and card fee income

238

257

266

210

216

761

658

Service charges on deposit accounts

208

215

211

230

207

634

617

Bank-owned life insurance

461

449

440

440

437

1,350

1,224

Gain on sale of government guaranteed

loans

613

265

-

151

1,312

878

1,666

Losses on sale of available-for-sale

securities

(10

)

-

-

-

-

(10

)

(3,465

)

Other noninterest income

291

283

743

536

513

1,317

1,043

Total noninterest income

2,100

1,795

1,881

1,958

2,961

5,776

2,556

Noninterest expense

Salaries and employee benefits

6,985

6,997

6,694

6,759

6,727

20,676

19,428

Occupancy and equipment

850

814

788

762

754

2,452

2,233

Data processing

647

653

624

605

548

1,924

1,608

Other professional services

571

973

693

496

358

2,237

1,550

Software and other technology expense

788

719

703

774

671

2,210

1,968

Regulatory assessment

419

344

361

336

344

1,124

955

Other noninterest expense

1,596

1,592

1,556

603

1,428

4,744

3,991

Total noninterest expense

11,856

12,092

11,419

10,335

10,830

35,367

31,733

Net income before taxes

8,781

7,029

6,592

6,654

10,120

22,402

20,561

Income tax expense

2,040

1,064

1,542

950

2,236

4,646

4,361

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

QTD Average Balances and Yields/Rates (unaudited)

Table 4

Three Months Ended

September 30, 2025

June 30, 2025

September 30, 2024

Average

Yield/

Average

Yield/

Average

Yield/

(dollars in thousands)

Balance

Interest

Rate

Balance

Interest

Rate

Balance

Interest

Rate

Earning assets:

Cash and due from banks

$

21,058

$

129

2.43

%

$

20,762

$

111

2.14

%

$

20,317

$

131

2.57

%

Federal funds sold

52,240

616

4.68

%

62,656

698

4.47

%

76,290

1,045

5.45

%

Investment securities

339,619

4,125

4.82

%

338,635

3,875

4.59

%

353,121

4,171

4.70

%

Loans held for sale

167,424

3,422

8.11

%

167,617

3,296

7.89

%

142,205

2,993

8.37

%

Loans held for investment

1,543,363

24,598

6.32

%

1,506,211

23,813

6.34

%

1,439,835

24,214

6.69

%

Total earning assets

2,123,704

32,890

6.14

%

2,095,881

31,793

6.08

%

2,031,768

32,554

6.37

%

Noninterest-earning assets:

Allowance for credit losses on LHFI

(17,504

)

(17,110

)

(15,992

)

Bank-owned life insurance

47,569

47,119

45,798

Premises, furniture and equipment, net

18,241

18,034

17,751

Deferred tax asset

17,159

17,182

18,255

Goodwill & intangible assets

6,176

6,168

6,257

Other assets

30,633

29,442

26,648

Total noninterest-earning assets

102,274

100,835

98,717

Total assets

$

2,225,978

$

2,196,716

$

2,130,485

Interest-bearing liabilities:

Interest-bearing deposits

$

1,631,767

$

13,274

3.23

%

$

1,626,415

$

13,251

3.27

%

$

1,495,726

$

14,230

3.78

%

Federal Reserve Bank - BTFP

-

-

0.00

%

-

-

0.00

%

70,000

863

4.90

%

Federal funds purchased

-

-

0.00

%

38

1

10.56

%

-

-

0.00

%

Federal Home Loan Bank of

Atlanta advances

272

3

4.38

%

10,000

116

4.65

%

-

-

0.00

%

Revolving commercial line of credit, net

-

-

0.00

%

5,667

112

7.93

%

11,994

260

8.62

%

Subordinated debt, net

12,191

423

13.77

%

14,747

235

6.39

%

14,712

235

6.35

%

Total interest-bearing liabilities

1,644,230

13,700

3.31

%

1,656,867

13,715

3.32

%

1,592,432

15,588

3.89

%

Noninterest-bearing liabilities:

Noninterest-bearing deposits

306,133

306,330

323,377

Other liabilities

28,927

27,682

29,242

Total noninterest-bearing liabilities

335,060

334,012

352,619

Shareholders' equity

246,688

205,837

185,434

Total liabilities and shareholders' equity

$

2,225,978

$

2,196,716

$

2,130,485

Net interest income

$

19,190

$

18,078

$

16,966

Net interest spread

2.83

%

2.76

%

2.48

%

Net interest margin

3.58

%

3.46

%

3.32

%

Cost of total deposits (1)

2.72

%

2.75

%

3.11

%

Cost of total funding (1)

2.79

%

2.80

%

3.24

%

YTD Average Balances and Yields/Rates (unaudited)

Table 5

Nine Months Ended

September 30, 2025

September 30, 2024

Average

Yield/

Average

Yield/

(dollars in thousands)

Balance

Interest

Rate

Balance

Interest

Rate

Earning assets:

Cash and due from banks

$

21,509

$

375

2.33

%

$

20,762

$

412

2.65

%

Federal funds sold

67,659

2,277

4.50

%

68,963

2,881

5.58

%

Investment securities

337,852

11,800

4.67

%

351,623

12,052

4.58

%

Loans held for sale

157,409

9,537

8.10

%

107,145

6,868

8.56

%

Loans held for investment

1,493,081

70,718

6.33

%

1,424,289

70,899

6.65

%

Total earning assets

2,077,510

94,707

6.09

%

1,972,782

93,112

6.30

%

Noninterest-earning assets:

Allowance for credit losses on LHFI

(17,245

)

(15,936

)

Bank-owned life insurance

47,123

45,380

Premises, furniture and equipment, net

18,044

17,682

Deferred tax asset

17,379

19,570

Goodwill & intangible assets

6,224

6,352

Other assets

29,935

31,315

Total noninterest-earning assets

101,460

104,363

Total assets

$

2,178,970

$

2,077,145

Interest-bearing liabilities:

Interest-bearing deposits

$

1,608,583

$

39,355

3.27

%

$

1,448,419

$

39,945

3.68

%

Federal Reserve Bank - BTFP

-

-

0.00

%

67,701

2,485

4.90

%

Federal funds purchased

13

1

10.28

%

-

-

0.00

%

Federal Home Loan Bank of

Atlanta advances

3,809

131

4.60

%

1,825

77

5.64

%

Revolving commercial line of credit, net

5,141

300

7.80

%

13,043

849

8.69

%

Subordinated debt, net

13,882

893

8.60

%

14,700

705

6.41

%

Total interest-bearing liabilities

1,631,428

40,680

3.33

%

1,545,688

44,061

3.81

%

Noninterest-bearing liabilities:

Noninterest bearing deposits

301,997

325,923

Other liabilities

27,944

29,639

Total noninterest-bearing liabilities

329,941

355,562

Shareholders' equity

217,601

175,895

Total liabilities and shareholders' equity

$

2,178,970

$

2,077,145

Net interest income

$

54,027

$

49,051

Net interest spread

2.76

%

2.49

%

Net interest margin

3.48

%

3.32

%

Cost of total deposits (1)

2.75

%

3.01

%

Cost of total funding (1)

2.81

%

3.14

%

Loan Data (unaudited)

Table 6

As of the Quarter Ended

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

September 30, 2024

(dollars in thousands)

Amount

% of

Total

Amount

% of

Total

Amount

% of

Total

Amount

% of

Total

Amount

% of

Total

Loans held for investment ("LHFI"):

Commercial Loans

Acquisition, development and

construction

$

106,787

6.9

%

$

100,528

6.6

%

$

76,453

5.2

%

$

72,520

5.2

%

$

112,275

8.0

%

Income producing CRE

371,670

23.9

372,142

24.4

352,693

24.0

321,558

22.8

267,551

19.0

Owner-occupied CRE

96,287

6.2

91,147

6.0

90,204

6.1

94,573

6.7

95,789

6.8

Senior housing

223,719

14.4

236,474

15.5

245,292

16.7

234,081

16.6

231,260

16.4

Commercial and industrial

135,039

8.7

131,716

8.6

145,784

9.8

141,626

10.0

140,290

10.0

Retail Loans

Marine vessels

318,246

20.5

301,327

19.7

284,305

19.3

263,657

18.6

279,689

19.8

Residential mortgages

190,220

12.2

185,527

12.1

176,794

12.0

174,099

12.4

173,392

12.3

Cash value life insurance LOC

90,115

5.8

87,135

5.7

80,503

5.5

86,844

6.2

87,968

6.2

Other consumer

20,893

1.4

21,203

1.4

20,204

1.4

20,485

1.5

21,699

1.5

Gross loans held for investment

$

1,552,976

100.0

%

$

1,527,199

100.0

%

$

1,472,232

100.0

%

$

1,409,443

100.0

%

$

1,409,913

100.0

%

Core LHFI

1,492,992

1,464,200

1,406,199

1,342,073

1,341,135

Acquired LHFI (1)

59,984

62,999

66,033

67,370

68,778

Gross loans held for investment

$

1,552,976

$

1,527,199

$

1,472,232

$

1,409,443

$

1,409,913

Allowance for credit losses on LHFI

18,028

17,497

17,104

17,118

15,615

Net loans held for investment

$

1,534,948

$

1,509,702

$

1,455,128

$

1,392,325

$

1,394,298

Total loans held-for-sale

231,593

209,101

187,481

174,033

193,938

Total Loans

$

1,784,569

$

1,736,300

$

1,659,713

$

1,583,476

$

1,603,851

Nonperforming Assets (unaudited)

Table 7

As of the Quarter Ended

(dollars in thousands)

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

September 30, 2024

Nonaccrual loans

$

14,171

$

14,611

$

14,599

$

14,957

$

8,408

Past due loans 90 days and still accruing

21

93

6

49

49

Total nonperforming loans

$

14,192

$

14,704

$

14,605

$

15,006

$

8,457

Other real estate owned

-

-

765

864

864

Total nonperforming assets

$

14,192

$

14,704

$

15,370

$

15,870

$

9,321

Nonperforming loans to gross LHFI

0.91

%

0.96

%

0.99

%

1.06

%

0.60

%

Nonaccrual loans to total assets

0.63

%

0.66

%

0.67

%

0.71

%

0.39

%

Nonperforming assets to total assets

0.63

%

0.66

%

0.70

%

0.76

%

0.44

%

Allowance for Credit Losses (unaudited)

Table 8

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Allowance for credit losses on LHFI

Balance, beginning of period

$

17,497

$

17,104

$

17,118

$

15,615

$

16,002

$

17,118

$

15,465

Net charge-offs/(recoveries):

Commercial Loans

Acquisition, development and

construction

-

-

-

-

-

-

-

Income producing CRE

-

-

-

-

-

-

-

Owner-occupied CRE

-

-

-

(53

)

-

-

-

Senior housing

-

-

-

-

-

-

-

Commercial and industrial

(29

)

19

1

3

30

(9

)

126

Retail Loans

Marine vessels

-

-

-

-

36

-

36

Residential mortgages

(2

)

(2

)

(2

)

(2

)

(7

)

(6

)

(13

)

Cash value life insurance LOC

-

-

-

-

-

-

-

Other consumer

156

191

16

(25

)

27

363

24

Total net charge-offs/(recoveries)

$

125

$

208

$

15

$

(77

)

$

86

$

348

$

173

Provision (recovery) for loan credit losses

656

601

1

1,426

(301

)

1,258

323

Balance, ending of period

$

18,028

$

17,497

$

17,104

$

17,118

$

15,615

$

18,028

$

15,615

Allowance for credit losses for unfunded commitments

Period beginning balance

$

3,499

$

3,348

$

2,720

$

2,906

$

3,628

$

2,720

$

3,916

(Recovery) provision for credit losses

(3

)

151

628

(186

)

(722

)

776

(1,010

)

Period ending balance

$

3,496

$

3,499

$

3,348

$

2,720

$

2,906

$

3,496

$

2,906

Balance, end of period - Allowance for credit

losses: LHFI and unfunded commitments

$

21,524

$

20,996

$

20,452

$

19,838

$

18,521

$

21,524

$

18,521

Total loans held for investment

$

1,552,976

$

1,527,199

$

1,472,232

$

1,409,443

$

1,409,913

$

1,552,976

$

1,409,913

Credit Analysis

Net charge-offs to average LHFI

0.03

%

0.06

%

0.00

%

(0.02

)%

0.02

%

0.03

%

0.02

%

Total allowance for credit losses on LHFI to

total LHFI

1.16

%

1.15

%

1.16

%

1.21

%

1.11

%

1.16

%

1.11

%

Total allowance for credit losses on LHFI to

nonaccrual loans

127.22

%

119.75

%

117.16

%

114.45

%

185.72

%

127.22

%

185.72

%

Total allowance for credit losses on LHFI to

total nonperforming loans

127.03

%

118.99

%

117.11

%

114.07

%

184.64

%

127.03

%

184.64

%

Loan Risk Ratings (1) (2) (unaudited)

Table 9

As of the Quarter Ended

(dollars in thousands)

September 30, 2025

June 30, 2025

March 31, 2025

December 31, 2024

September 30, 2024

Acquisition, development and

construction (1)

Pass

$

106,787

$

100,528

$

76,453

$

72,520

$

112,275

Special mention

-

-

-

-

-

Substandard

-

-

-

-

-

Total acquisition, development

and construction

$

106,787

$

100,528

$

76,453

$

72,520

$

112,275

Income producing CRE (1)

Pass

$

370,788

$

371,255

$

352,281

$

321,146

$

262,287

Special mention

-

-

-

-

4,852

Substandard

882

887

412

412

412

Total income producing

$

371,670

$

372,142

$

352,693

$

321,558

$

267,551

Owner-occupied CRE (1)

Pass

$

86,533

$

81,244

$

83,711

$

87,906

$

89,133

Special mention

3,579

3,612

-

-

1,838

Substandard

6,175

6,291

6,493

6,667

4,818

Total owner occupied

$

96,287

$

91,147

$

90,204

$

94,573

$

95,789

Senior housing (1)

Pass

$

205,330

$

217,971

$

208,922

$

190,084

$

184,178

Special mention

12,006

12,078

24,814

25,025

17,493

Substandard

6,383

6,425

11,556

18,972

29,589

Total senior housing

$

223,719

$

236,474

$

245,292

$

234,081

$

231,260

Commercial and industrial (2)

Pass

$

128,468

$

124,979

$

141,202

$

136,878

$

135,476

Special mention

2,402

2,199

-

36

189

Substandard

4,169

4,538

4,582

4,712

4,625

Total non-real estate

$

135,039

$

131,716

$

145,784

$

141,626

$

140,290

Marine vessels (2)

Performing

$

318,246

$

301,327

$

284,305

$

263,657

$

279,689

Nonperforming

-

-

-

-

-

Total marine vessels

$

318,246

$

301,327

$

284,305

$

263,657

$

279,689

Residential mortgages (2)

Performing

$

190,059

$

185,162

$

176,633

$

173,834

$

173,122

Nonperforming

161

365

161

265

270

Total residential mortgages

$

190,220

$

185,527

$

176,794

$

174,099

$

173,392

Cash value life insurance LOC (2)

Performing

$

90,115

$

87,135

$

80,503

$

86,844

$

87,968

Nonperforming

-

-

-

-

-

Total cash value life insurance

LOC

$

90,115

$

87,135

$

80,503

$

86,844

$

87,968

Other consumer (2)

Performing

$

20,872

$

21,203

$

20,204

$

20,442

$

21,699

Nonperforming

21

-

-

43

-

Total other consumer

$

20,893

$

21,203

$

20,204

$

20,485

$

21,699

Gross loans held for investment

$

1,552,976

$

1,527,199

$

1,472,232

$

1,409,443

$

1,409,913

Non-GAAP Financial Measures

The measures entitled return on average tangible common equity, tangible book value per share, tangible common equity, tangible assets, adjusted nonperforming assets to total assets, adjusted nonperforming assets, adjusted net income, adjusted basic earnings per share, adjusted diluted earnings per share, pre-tax, pre-provision net revenue, adjusted return on average assets, adjusted return on average equity, efficiency ratio, as adjusted, adjusted return on average tangible common equity, adjusted noninterest income to total revenue, and tangible common equity to tangible assets are not measures recognized under accounting principles generally accepted in the United States of America (“GAAP”) and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are return on average shareholders’ equity, book value per share, total shareholders’ equity, total assets, total nonperforming assets to total assets, total nonperforming assets, net income, basic earnings per share, diluted earnings per share, net income, return on average assets, return on average equity, the efficiency ratio, return on average equity, noninterest income to total revenue, total common equity to total assets, respectively.

Management believes that these non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view the Company’s performance using the same tools that management uses to evaluate the Company’s past performance and prospects for future performance. While management believes that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures should be considered as additional views of the way the Company’s financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies.

Non-GAAP Reconciliations

 

 

Tangible Book Value per Share / Tangible Common Equity to Tangible Assets (unaudited)

Table 10A

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands, except per share data)

2025

2025

2025

2024

2024

2025

2024

Tangible Common Equity:

Total shareholders' equity

$

250,438

$

209,365

$

202,104

$

195,232

$

193,303

$

250,438

$

193,303

Less: Goodwill and intangibles

(6,186

)

(6,190

)

(6,199

)

(6,386

)

(6,451

)

(6,186

)

(6,451

)

Adjusted for: Mortgage servicing

rights

1,156

1,122

1,093

1,237

1,258

1,156

1,258

Tangible Common Equity

$

245,408

$

204,297

$

196,998

$

190,083

$

188,110

$

245,408

$

188,110

Common shares outstanding

11,978,921

$

10,278,921

10,274,271

10,270,146

10,250,446

11,978,921

10,250,446

Book value per common share

20.91

20.37

19.67

19.01

18.86

20.91

18.86

Tangible book value per common

share

20.49

19.88

19.17

18.51

18.35

20.49

18.35

Tangible assets:

Total assets

$

2,255,389

$

2,221,245

$

2,190,391

$

2,098,712

$

2,129,346

$

2,255,389

$

2,129,346

Less: Goodwill and intangibles

(6,186

)

(6,190

)

(6,199

)

(6,386

)

(6,451

)

(6,186

)

(6,451

)

Adjusted for: Mortgage servicing

rights

1,156

1,122

1,093

1,237

1,258

1,156

1,258

Tangible assets

$

2,250,359

$

2,216,177

$

2,185,285

$

2,093,563

$

2,124,153

$

2,250,359

$

2,124,153

Tangible common equity to

tangible assets

10.91

%

9.22

%

9.01

%

9.08

%

8.86

%

10.91

%

8.86

%

ROATCE / Adjusted ROATCE (unaudited)

Table 10B

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Average shareholders' equity

246,688

205,837

199,763

194,724

185,434

217,601

175,895

Return on average shareholders'

equity (1)

10.84

%

11.62

%

10.25

%

11.65

%

16.91

%

10.91

%

12.30

%

Average Tangible Common Equity:

Average shareholders' equity

$

246,688

$

205,837

$

199,763

$

194,724

$

185,434

$

217,601

$

175,895

Less: Average goodwill and

intangibles

(6,176

)

(6,168

)

(6,328

)

(6,432

)

(6,257

)

(6,224

)

(6,352

)

Adjusted for: Average mortgage

servicing rights

1,128

1,082

1,198

1,263

1,041

1,136

1,089

Average tangible common equity

$

241,640

$

200,751

$

194,633

$

189,555

$

180,218

$

212,513

$

170,632

Return on average tangible common (1)

shareholders' equity

11.07

%

11.92

%

10.52

%

11.97

%

17.40

%

11.17

%

12.68

%

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Adjusted for:

Loss on sale of AFS

securities, net of tax (2)

8

-

-

-

-

8

2,654

Adjusted net income

$

6,749

$

5,965

$

5,050

$

5,704

$

7,884

$

17,764

$

18,854

Average tangible common equity

$

241,640

$

200,751

$

194,633

$

189,555

$

180,218

$

212,513

$

170,632

Adjusted return on average tangible

common equity (1)

11.08

%

11.92

%

10.52

%

11.97

%

17.40

%

11.18

%

14.76

%

Non-GAAP Reconciliations

 

Efficiency Ratio, as Adjusted / Noninterest Income to Total Revenue (unaudited)

Table 10C

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

GAAP-based efficiency ratio

55.69

%

60.85

%

61.26

%

56.70

%

54.35

%

59.14

%

61.49

%

Net interest income

$

19,190

$

18,078

$

16,759

$

16,271

$

16,966

$

54,027

$

49,051

Noninterest income

2,100

1,795

1,881

1,958

2,961

5,776

2,556

Adjusted for:

Loss on sale of AFS

securities (1)

10

-

-

-

-

10

3,465

Adjusted revenue

$

21,300

$

19,873

$

18,640

$

18,229

$

19,927

$

59,813

$

55,072

Total noninterest expense

11,856

12,092

11,419

10,335

10,830

35,367

31,733

Adjusted noninterest expense

$

11,856

$

12,092

$

11,419

$

10,335

$

10,830

$

35,367

$

31,733

Efficiency ratio, as adjusted

55.66

%

60.85

%

61.26

%

56.70

%

54.35

%

59.13

%

57.62

%

Noninterest income to total revenue

9.86

%

9.03

%

10.09

%

10.74

%

14.86

%

9.66

%

4.95

%

Adjusted noninterest income to

total adjusted revenue

9.91

%

9.03

%

10.09

%

10.74

%

14.86

%

9.67

%

10.93

%

Adjusted Net Income / Adjusted Return on Average Assets (unaudited)

Table 10D

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Average assets

2,225,978

2,196,716

2,111,196

2,117,357

2,130,485

2,178,970

2,077,145

Return on average assets (1)

1.20

%

1.09

%

0.97

%

1.07

%

1.47

%

1.09

%

1.04

%

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Adjusted for:

Loss on sale of AFS

securities, net of tax (2)

8

-

-

-

-

8

2,654

Adjusted net income

$

6,749

$

5,965

$

5,050

$

5,704

$

7,884

$

17,764

$

18,854

Average assets

$

2,225,978

$

2,196,716

$

2,111,196

$

2,117,357

$

2,130,485

$

2,178,970

$

2,077,145

Adjusted return on average

assets (1)

1.20

%

1.09

%

0.97

%

1.07

%

1.47

%

1.09

%

1.21

%

Adjusted Net Income / Adjusted Return on Average Shareholders' Equity (unaudited)

Table 10E

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Average shareholders' equity

246,688

205,837

199,763

194,724

185,434

217,601

175,895

Return on average

shareholders' equity (1)

10.84

%

11.62

%

10.25

%

11.65

%

16.91

%

10.91

%

12.30

%

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Adjusted for:

Loss on sale of AFS

securities, net of tax (2)

8

-

-

-

-

8

2,654

Adjusted net income

$

6,749

$

5,965

$

5,050

$

5,704

$

7,884

$

17,764

$

18,854

Average shareholders' equity

$

246,688

$

205,837

$

199,763

$

194,724

$

185,434

$

217,601

$

175,895

Adjusted return on average

shareholders' equity (1)

10.85

%

11.62

%

10.25

%

11.65

%

16.91

%

10.91

%

14.32

%

Non-GAAP Reconciliations

 

Adjusted Net Income / Adjusted Basic EPS / Adjusted Diluted EPS (unaudited)

Table 10F

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands, except per share data)

2025

2025

2025

2024

2024

2025

2024

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Average common shares

outstanding - basic

11,941,965

10,277,721

10,273,125

10,250,446

10,250,446

10,837,050

10,180,788

Basic earnings per share

$

0.57

$

0.58

$

0.49

$

0.56

$

0.77

$

1.64

$

1.59

Average common shares

outstanding - diluted

12,325,462

10,612,255

10,642,078

10,596,364

10,544,087

11,217,972

10,420,646

Diluted earnings per share

$

0.54

$

0.57

$

0.47

$

0.54

$

0.75

$

1.58

$

1.55

Net income

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Adjusted for:

Loss on sale of AFS securities,

net of tax (1)

8

-

-

-

-

8

2,654

Adjusted net income

$

6,749

$

5,965

$

5,050

$

5,704

$

7,884

$

17,764

$

18,854

Adjusted basic earnings per share

$

0.57

$

0.58

$

0.49

$

0.56

$

0.77

$

1.64

$

1.85

Adjusted diluted earnings per share

$

0.54

$

0.57

$

0.47

$

0.54

$

0.75

$

1.58

$

1.81

Adjusted Nonperforming Assets to Total Assets (unaudited)

Table 10G

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Total nonperforming assets

$

14,192

$

14,704

$

15,370

$

15,870

$

9,321

$

14,192

$

9,321

Total assets

2,255,389

2,221,245

2,190,391

2,098,712

2,129,346

2,255,389

2,129,346

GAAP-based nonperforming assets

to total assets

0.63

%

0.66

%

0.70

%

0.76

%

0.44

%

0.63

%

0.44

%

Total nonperforming assets

$

14,192

$

14,704

$

15,370

$

15,870

$

9,321

$

14,192

$

9,321

Adjusted for:

Guaranteed portions of nonaccrual

loans

4,457

4,583

4,692

4,811

4,916

4,457

4,916

Adjusted total nonperforming assets

$

9,735

$

10,121

$

10,678

$

11,059

$

4,405

$

9,735

$

4,405

Total assets

$

2,255,389

$

2,221,245

$

2,190,391

$

2,098,712

$

2,129,346

$

2,255,389

$

2,129,346

Adjusted nonperforming assets to

total assets

0.43

%

0.46

%

0.49

%

0.53

%

0.21

%

0.43

%

0.21

%

PPNR (unaudited)

Table 10H

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Net income (GAAP-based)

$

6,741

$

5,965

$

5,050

$

5,704

$

7,884

$

17,756

$

16,200

Plus:

Income tax expense

2,040

1,064

1,542

950

2,236

4,646

4,361

Provision (recovery) for credit losses

653

752

629

1,240

(1,023

)

2,034

(687

)

Pre-tax, pre-provision net revenue

$

9,434

$

7,781

$

7,221

$

7,894

$

9,097

$

24,436

$

19,874

Core Deposits (unaudited)

Table 10I

As of and for the Three Months Ended

As of and for the Nine Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

September 30,

September 30,

(dollars in thousands)

2025

2025

2025

2024

2024

2025

2024

Total Deposits

$

1,949,672

$

1,968,301

$

1,937,693

$

1,834,802

$

1,807,315

$

1,949,672

$

1,807,315

Less:

Brokered CDs

294,908

307,892

287,335

274,898

178,609

294,908

178,609

Core deposits (1)

$

1,654,764

$

1,660,409

$

1,650,358

$

1,559,904

$

1,628,706

$

1,654,764

$

1,628,706